Accrol Papers set to float on AIM

Blackburn-based paper tissue firm Accrol Papers has announced its intention to float on the AIM market of the London Stock Exchange with dealings expected to commence on June 10.

Established in 1993 by the Hussain family, Accrol has grown to become a leading supplier of tissue products, supplying both the premium retail and UK discount markets.

The business manufactures a wide range of household and away from home tissue products for a number of blue-chip retailers and service providers from its purpose-built 350,000 sq. ft. manufacturing, storage and distribution facility in Blackburn.

Over the last three years, Accrol has experienced rapid growth, with sales exceeding £100m in 2015 and EBITDA growing 13.7 per cent year-on-year. This has enabled the company to increase its headcount to more than 450, becoming a major employer in Lancashire.

Majid Hussain, the outgoing CEO of Accrol, said: “My father, Jawid Hussain, started this business in 1993 and the family has built it into the successful Company it is today.

Peter Cheung, chairman of Accrol, added: “We are delighted by the level of interest and support we have received from high quality institutional investors. We are a very well invested company with an attractive and progressive dividend policy and we look forward to creating value for all of our shareholders in this new and exciting stage in Accrol’s development.”

The Hussain family will remain company shareholders and are undergoing a transitioned exit from the management of the business.